Manuka Market

The article explores the rising demand for manuka globally, with projections indicating growth in market volume and value. Consumption trends, production rates, and import and export statistics are analyzed to provide insights into the market trends. Key findings include the top consuming countries, production levels, import and export volumes, and price trends over the years. The data highlights the significant role of countries like China, the United States, and Turkey in the manuka market, as well as the fastest-growing markets and trends in consumption and prices.

Market Forecast

Driven by increasing demand for manuka worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.4% for the period from 2022 to 2030, which is projected to bring the market volume to 2.3M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.8% for the period from 2022 to 2030, which is projected to bring the market value to $9.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Manuka

In 2022, global consumption of manuka amounted to 1.9M tons, increasing by 4.5% against the year before. The total consumption volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, global consumption attained the peak volume at 1.9M tons in 2016; afterwards, it flattened through to 2022.

The global manuka market value expanded significantly to $6.8B in 2022, with an increase of 5.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Global consumption peaked at $6.8B in 2016; afterwards, it flattened through to 2022.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (310K tons), the United States (252K tons) and Turkey (101K tons), with a combined 35% share of global consumption. Iran, Germany, Russia, the UK, France, Japan, Spain, Mexico, Poland and Canada lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Poland (with a CAGR of +6.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($853M), China ($609M) and Turkey ($403M) appeared to be the countries with the highest levels of market value in 2022, with a combined 27% share of the global market. Germany, France, Russia, Japan, Iran, the UK, Mexico, Canada, Spain and Poland lagged somewhat behind, together accounting for a further 24%.

Poland, with a CAGR of +5.3%, saw the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of manuka per capita consumption in 2022 were Turkey (1,183 kg per 1000 persons), Poland (956 kg per 1000 persons) and Germany (951 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Poland (with a CAGR of +6.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Manuka

In 2022, the amount of manuka produced worldwide expanded slightly to 1.9M tons, picking up by 4.1% on 2021. The total output volume increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 4.4%. Global production peaked at 1.9M tons in 2017; afterwards, it flattened through to 2022.

In value terms, manuka production declined slightly to $6.6B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 11%. As a result, production reached the peak level of $7.5B. From 2017 to 2022, global production growth failed to regain momentum.

Production By Country

China (462K tons) constituted the country with the largest volume of manuka production, accounting for 25% of total volume. Moreover, manuka production in China exceeded the figures recorded by the second-largest producer, Turkey (118K tons), fourfold. The third position in this ranking was taken by India (88K tons), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Turkey (+2.9% per year) and India (+4.0% per year).

Imports

World Imports of Manuka

In 2022, supplies from abroad of manuka increased by 2.6% to 783K tons, rising for the third consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 13%. Over the period under review, global imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, manuka imports expanded modestly to $2.8B in 2022. The total import value increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 18%. Global imports peaked in 2022 and are expected to retain growth in the near future.

Imports By Country

The United States represented the key importing country with an import of around 206K tons, which finished at 26% of total imports. Germany (75K tons) held the second position in the ranking, followed by the UK (51K tons), Japan (47K tons), Belgium (40K tons), Spain (38K tons) and France (35K tons). All these countries together held approx. 37% share of total imports. Poland (32K tons), Italy (25K tons), Saudi Arabia (23K tons), the Netherlands (17K tons), Portugal (14K tons) and the United Arab Emirates (13K tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to manuka imports into the United States stood at +3.8%. At the same time, Portugal (+23.6%), the United Arab Emirates (+16.4%), Poland (+8.4%), Belgium (+6.7%), Spain (+6.0%), Italy (+5.0%), the UK (+4.5%), France (+3.3%), Saudi Arabia (+3.2%), the Netherlands (+2.8%) and Japan (+2.5%) displayed positive paces of growth. Moreover, Portugal emerged as the fastest-growing importer imported in the world, with a CAGR of +23.6% from 2012-2022. By contrast, Germany (-1.4%) illustrated a downward trend over the same period. While the share of Germany (-6.6 p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($732M) constitutes the largest market for imported manuka worldwide, comprising 26% of global imports. The second position in the ranking was held by Germany ($304M), with an 11% share of global imports. It was followed by Japan, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +5.5%. In the other countries, the average annual rates were as follows: Germany (+0.4% per year) and Japan (+4.8% per year).

Import Prices By Country

The average manuka import price stood at $3,540 per ton in 2022, approximately reflecting the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 16% against the previous year. Global import price peaked at $3,758 per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($4,286 per ton), while Poland ($2,246 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+2.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Manuka

In 2022, shipments abroad of manuka increased by 1.5% to 758K tons, rising for the third consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 17% against the previous year. The global exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, manuka exports contracted slightly to $2.7B in 2022. The total export value increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 19% against the previous year. Over the period under review, the global exports attained the peak figure at $2.7B in 2021, and then declined in the following year.

Exports By Country

In 2022, China (156K tons), distantly followed by India (86K tons), Argentina (72K tons), Ukraine (48K tons) and Brazil (37K tons) were the key exporters of manuka, together mixing up 53% of total exports. Belgium (32K tons), Spain (28K tons), Mexico (27K tons), Germany (21K tons), Turkey (17K tons), Vietnam (15K tons), Poland (15K tons) and Hungary (15K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +29.8%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($278M), Argentina ($243M) and India ($229M) constituted the countries with the highest levels of exports in 2022, together comprising 28% of global exports. Ukraine, Brazil, Germany, Spain, Mexico, Belgium, Hungary, Vietnam, Poland and Turkey lagged somewhat behind, together accounting for a further 36%.

Turkey, with a CAGR of +22.7%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average manuka export price amounted to $3,557 per ton, waning by -1.6% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 12%. Over the period under review, the average export prices hit record highs at $3,814 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($5,861 per ton), while China ($1,780 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform